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Strategies & Market Trends : CANSLIM - COAST TO COAST -- Ignore unavailable to you. Want to Upgrade?

To: Harold who wrote (4510)	3/31/1999 11:38:00 AM
From: Jeff Mulder	Read Replies (1) \| Respond to of 6445

I don't follow MZON, so I have no informed comment on its fundamentals. One look at the chart tells me what industry MZON is in. Yesterday hinted at today's move with the increase in volume and move up to the 50-day MA. If I were taking a position in the stock, I probably would have put in a buy stop above the MA. Then I would have gotten burned with this morning's gap. This really isn't a stock compatible with my intermediate-term approach, so I have no interest in playing it. If I did play it, I wouldn't chase it here -- I'd wait for it to pull back closer to the 50-day MA, look for a reversal, and put a stop just below the MA. I'm seeing quite a few Internet stocks building longer-than-average bases. It's an interesting phenomenon. We'll find out soon enough if they're building strength or tiring out. - Jeff